First Trust Direct Indexing L.P. Has $731,000 Stake in Comerica Incorporated (NYSE:CMA)

First Trust Direct Indexing L.P. lifted its stake in shares of Comerica Incorporated (NYSE:CMA) by 77.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,205 shares of the financial services provider’s stock after purchasing an additional 5,311 shares during the period. First Trust Direct Indexing L.P.’s holdings in Comerica were worth $731,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CMA. Mission Wealth Management LP lifted its position in shares of Comerica by 11.3% during the first quarter. Mission Wealth Management LP now owns 6,322 shares of the financial services provider’s stock worth $348,000 after purchasing an additional 644 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Comerica by 13.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 64,189 shares of the financial services provider’s stock worth $3,375,000 after purchasing an additional 7,418 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Comerica by 79.2% during the first quarter. BNP Paribas Financial Markets now owns 346,804 shares of the financial services provider’s stock worth $19,071,000 after purchasing an additional 153,301 shares in the last quarter. Fidelis Capital Partners LLC acquired a new position in Comerica in the first quarter valued at approximately $93,000. Finally, Graypoint LLC lifted its holdings in Comerica by 51.1% in the first quarter. Graypoint LLC now owns 6,503 shares of the financial services provider’s stock valued at $358,000 after buying an additional 2,198 shares during the period. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Comerica Stock Down 1.3 %

Comerica stock opened at $62.89 on Friday. The company has a market cap of $8.27 billion, a P/E ratio of 15.72 and a beta of 1.23. Comerica Incorporated has a 1-year low of $39.94 and a 1-year high of $66.06. The company has a fifty day simple moving average of $59.43 and a 200 day simple moving average of $54.47. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.97.

Comerica (NYSE:CMA) last released its earnings results on Friday, October 18th. The financial services provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.16. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $806.49 million. Comerica had a net margin of 11.17% and a return on equity of 12.54%. During the same quarter last year, the firm earned $1.84 earnings per share. Research analysts anticipate that Comerica Incorporated will post 5.37 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CMA shares. Morgan Stanley increased their price objective on shares of Comerica from $63.00 to $67.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. DA Davidson increased their price objective on shares of Comerica from $64.00 to $68.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Keefe, Bruyette & Woods upgraded shares of Comerica from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $50.00 to $69.00 in a report on Thursday, September 5th. Wells Fargo & Company increased their price objective on shares of Comerica from $43.00 to $51.00 and gave the company an “underweight” rating in a report on Monday, October 21st. Finally, StockNews.com upgraded shares of Comerica from a “sell” rating to a “hold” rating in a report on Monday, October 21st. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $62.81.

Insider Buying and Selling at Comerica

In other Comerica news, EVP Bruce Mitchell sold 7,564 shares of the stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $62.20, for a total value of $470,480.80. Following the completion of the sale, the executive vice president now owns 16,428 shares in the company, valued at $1,021,821.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Comerica news, EVP James Harry Weber sold 6,500 shares of the stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $63.23, for a total value of $410,995.00. Following the completion of the sale, the executive vice president now owns 15,773 shares in the company, valued at $997,326.79. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Bruce Mitchell sold 7,564 shares of the stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $62.20, for a total transaction of $470,480.80. Following the completion of the sale, the executive vice president now owns 16,428 shares of the company’s stock, valued at approximately $1,021,821.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,609 shares of company stock worth $1,027,839 over the last quarter. 0.19% of the stock is currently owned by insiders.

Comerica Profile

Comerica Incorporated, through its subsidiaries, provides various financial products and services. The company operates through Commercial Bank, Retail Bank, Wealth Management, and Finance segments. The Commercial Bank segment offers various products and services, including commercial loans and lines of credit, deposits, cash management, payment solutions, card services, capital market products, international trade finance, letters of credit, foreign exchange management services, and loan syndication services for small and middle market businesses, multinational corporations, and governmental entities.